Health & Fitness

In Vivo Contract Research Organization (CRO) Market Revenue to Surpass USD 9.84 Billion by 2032

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The global market size for in vivo Contract Research Organizations (CROs) reached USD 5.35 Billion in 2022 and is anticipated to attain USD 9.84 Billion by 2032, marking a rapid revenue Compound Annual Growth Rate (CAGR) of 7% throughout the forecast period. A significant driver for the expansion of market revenue is the increasing demand for outsourcing preclinical research operations by pharmaceutical and biotechnology companies, coupled with the growing adoption of advanced technologies to enhance Research & Development (R&D) efficiency.

In vivo CROs offer a spectrum of services, including toxicology testing, pharmacokinetics and pharmacodynamics, bioanalysis and drug metabolism, as well as efficacy and safety testing. Additionally, the surge in R&D activities is propelled by the escalating prevalence of chronic diseases such as cancer, diabetes, and neurological disorders. This upsurge in R&D efforts further contributes to the overall growth of the in vivo CRO market.

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Competitive Landscape:
The global In vivo Contract Research Organization (CRO) market is a growing industry that provides preclinical research services to pharmaceutical, biotechnology, and medical device companies. The market is fragmented, with many small and medium-sized players operating globally, and a few large players dominating the market.
Major companies operating in the In vivo CRO market are:

• Charles River Laboratories International, Inc.
• LabCorp
• Covance Inc.
• PRA Health Sciences
• Envigo
• WuXi AppTec
• Syngene International Limited
• Pharmaron Beijing Co., Ltd.
• ICON plc
• Concept Life Sciences

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Key Strategic Moves:

• In 2021, Charles River Laboratories International, Inc. completed the acquisition of Vigene Biosciences, Inc. for $292.5 million, thereby incorporating viral vector manufacturing capabilities into its gene therapy portfolio. The strategic intent behind this acquisition was to broaden Charles River’s expertise in the rapidly expanding gene therapy market.

• In the same year, LabCorp announced the successful acquisition of Myriad Genetics’ autoimmune testing business for $150 million. This move was strategically aligned with LabCorp’s objective to extend its footprint in the autoimmune testing market.

• In 2020, Covance Inc. established a strategic alliance with M2Gen, a provider of genomic and clinical data. The alliance aimed to strengthen Covance’s capacity to conduct biomarker-driven clinical trials, consequently expediting drug development timelines.

• Also in 2020, PRA Health Sciences acquired Symphony Health for $530 million, adding real-world data capabilities to its portfolio. This strategic acquisition was geared towards expanding PRA Health Sciences’ offerings in the burgeoning real-world evidence market.

• In another significant move in 2020, WuXi AppTec announced the acquisition of OXGENE, a gene therapy Contract Research Organization (CRO), for $115 million. This strategic acquisition aimed to enhance WuXi AppTec’s capabilities in the field of gene therapy and accelerate the development of gene therapies.

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